Living with a roommate means sharing responsibilities and splitting costs. Chief among those responsibilities are rent and housing-related finances. For example, how do you handle the security deposit? Should your roommate pay more if she gets the larger room? Determining how to handle these costs should be the first order of business for you and your roommate. Once you figure out the specifics of shared expenses, there are plenty of roommate apps to help you stay financially accountable to one another and make sure all your bills are paid on time.
Dividing Rent Fairly
When I first moved to NYC, I sublet a tiny room that barely had space for a single bed. My roommate had a significantly larger bedroom with an ensuite bathroom. A month in, I realized we were paying the same amount in rent and I was livid – surely she should be paying more! When there are large variations in living space, it only seems fair that each person’s portion of the rent bill should reflect the pluses and minuses of their room. There are a couple ways you can go about making sure everyone is paying their fair share.